411 N 34th St - Apartments FOR SALE


Philadelphia, PA 19104- Powelton
$6,900,000 USD
215-454-2879
411 N 34th St, Philadelphia, PA for Sale
$6,900,000 USD
Apartments - FOR SALE
1/8
null | 6% Cap Rate

411 N 34th St
Philadelphia, PA 19104
Powelton


OVERVIEW

This 21-unit, 62-bed community is the "Lifestyle" play of the portfolio. Built in 2015, the 29,223 square foot property includes a dedicated fitness center, which drives a premium over neighboring smaller assets. It is perfectly positioned for the Year 2 projected rent increase of $360,000. Located at 34th & Hamilton Streets, this property boasts a 98 "Biker’s Paradise" score. The building features shared secure laundry facilities and modern floor plans that appeal heavily to upperclassmen. It is less than a 10-minute walk to the Drexel Student Union. University City is recognized as a regional leader in science and innovation, featuring distinguished universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents, alongside 85,000 jobs in various sectors, including medicine, higher education, real estate, technology, and hospitality. University City offers extensive real estate development opportunities and provides some of the region's best transportation infrastructure, including highly accessible bicycle and pedestrian thoroughfares. This prominent section of the City stands as a cultural destination and transportation hub, as well as an employment center that supports significant development projects and advances in life sciences. With a diverse population, varied housing and rental options, exceptional educational institutions and medical facilities, and a wide array of amenities, University City is considered one of Philadelphia’s premier neighborhoods and is well-positioned to address both current and future needs.

FOR SALE DETAILS

PRICE

$6,900,000 USD

PRICE/SF

$531 USD /SF

# OF UNITS

21

PRICE/UNIT

$328,571

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

34th & Hamilton

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2014

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

CMX-2

APN/PARCEL ID

881812250

ASK ABOUT THIS PROPERTY

215-454-2879

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215-454-2879

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